Warren for Senate: [link removed]

Do you
enjoy getting charged extra fees from credit card companies? Republicans
seem to think so.

Let’s back up a second. Last year, the CFPB proposed a new rule for credit
card companies to cap their late payment fees — no more $30 or $40 fines
for being late on a bill unless they can prove that it actually costs that
much to process a late payment. This new rule would save Americans an
estimated $10 billion a year.

Well, Republicans recently introduced a bill to overturn the CFPB’s rule
so that the credit card industry can continue squeezing every last dime
out of consumers. One House Republican even said “the vast majority of
Americans” support these fees.

I don’t know about you, but
I can’t think of any consumer who loves fees and loves giving more money
to their multi-million-dollar bank. You don’t see very many “'I  [1]heart
emoji Junk Fees” bumper stickers when you’re driving around.

Now, this might shock you, so you might want to sit down if you aren’t
already: it wasn’t consumers who were unhappy about this new rule. It was
the credit card companies.

In fact, they rolled out a massive campaign to try to stop it, claiming
that ending excessive late fees would destroy their industry as we know
it. They took the fight to Congress, which got us to the “customers love
fees, actually” argument. They also took it to the courts, where a
Trump-appointed judge just sided with the bank lobbyists.

This new rule was going to take effect this week, but this judge blocked
it.

Let’s be clear: Excessive late fees are designed to wring some extra
profits out of someone who’s already stretched thin. They’re a tool that
keeps working people down. This fight isn’t over — I’m going to keep
working to stop big Wall Street firms from ripping people off.

[ [link removed] ]Will
you add your name to say you support the Consumer Financial Protection
Bureau’s crackdown on credit card junk fees? Together, we can push back
against corporate greed.

[ [link removed] ]ADD YOUR NAME

Thanks for being a part of this,

Elizabeth







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